Smart Home Appliances Market Size & Trend Analysis Report is expected to reach $131.90 Billion by 2030 at a CAGR of 7.1%

Smart Home Appliances Market

The global smart home appliances market size is expected to reach USD 131.90 billion by 2030 according to a new study by Polaris Market Research.

Intelligent home appliances are placed in an intelligent home and function with a home automation system that utilizes electric power transfer with short radio frequency signals. The key objective behind this concept is to provide clients with more comfort and a better user experience in the residential real estate industry. Over the forecast period, increasing availability of wireless solutions, growing smartphone demand, and increased internet penetration are projected to significantly enhance the intelligent house appliances industry.

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Intelligent washing machines led the industry in terms of revenue in 2021. Increased smartphone and rising wireless internet usage on consumer electronics are a few pivotal factors influencing the segment’s growth prospects. Connected household items include intelligent dishwashers, intelligent lights, kitchen products, house gadgets, and other ancillary household items. The intent towards a luxurious lifestyle coupled with technological advancements boosts the segment forward.

The prominent factors favoring the global industry growth include an increase in the adoption of mobile phones and internet penetration. Mobile phone ownership is rapidly increasing in emerging and developing countries. Similarly, as per Our World in Data, internet users worldwide have risen from 413 million in 2000 to more than 3.4 billion in 2016. Thus, increasing internet penetration across the globe is further aiding the industry’s growth.

Market participants such as Whirlpool, BSH Hausgeräte GmbH, Apple Inc., Ecovacs, Electrolux AB, Electrolux, GE Appliances, Hisense, Haier, IRobot, LG, Midea, Neato, Miele & Cie, Panasonic, Philips, Sony Group Corporation, Samsung, and Xiaomi Corporation and others are some of the key players operating in the global market.

Market players are more focused on developing cost-effective intelligent house appliances to connect with all populations, falling within different income groups. In line with this, in July 2021, Samsung introduced the “Bespoke Home” intelligent house solution and services. The concerned solution will start with the company’s “Bespoke refrigerators,” which will include a bottom-mount Freezer with seamless connectivity powered by the IoT device-enabled services, artificial intelligence, and automation.

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Polaris Market Research has segmented the smart home appliances market report on the basis of product, distribution channel, and region:

Smart Home Appliances, Product Outlook (Revenue – USD Billion, 2018 – 2030)

  • Washing Machines
  • Refrigerators
  • Air Purifiers
  • Smart TV
  • Others

Smart Home Appliances, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)

  • Online
  • Offline

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